One of the many reasons people move to Southwest Florida and Naples, FL, is for a more relaxed, enjoyable lifestyle. Many choose condominium living for this reason.

Condominium living provides a more maintenance-free life with fewer day-to-day upkeep and maintenance responsibilities. However, condo owners still have responsibilities. One is properly insuring their condo. At Pro America Insurance, we would like you to know.

If you have a mortgage.

If you took out a loan to purchase your condo, you are probably required to have insurance on your property. While owning your condominium outright may take care of your lender’s requirement to carry insurance, your HOA may still need some form of condo property insurance. This helps assure the HOA that a damaged condominium will be repaired and not negatively impact the value of others in the community. 

Your association may require it.

It is possible that even if you don’t have a loan on your condo, your condo association may require certain levels of coverage. This is to help ensure that any properties damaged in a claim have the resources to be repaired promptly.

Responsibilities from the walls inward.

Personal condo insurance is generally designed to protect your investment from the walls inward, including contents. This is because the association’s insurance should cover the buildings’ exterior and common areas.

Verify before you buy.

Before you purchase a condo in the Naples, FL, area, perform your due diligence to discover what the association is responsible for and what you are responsible for insuring. You may also want to inquire about the association’s policy’s limits and how likely assessments may be in a damage claim.

Contact us to learn more and to get a quote today.

Get the peace of mind you deserve when moving into your new condo. Contact us for your price quote today.

We are Pro America Insurance, serving the Naples, FL, area, and we look forward to assisting you.